Chapter 11 customer driven market

Question 1

Affinity program

Answer 1

Marketing effort sponsored by an organization that solicit involvement by individuals who share common interests and activities.

Question 2

Business (B2B) product

Answer 2

Good or service purchase to be used, either directly or indirectly, in the production of other goods for resale.

Question 3

Business intelligence

Answer 3

Activities in technologies for gathering, storing, and analyzing data to make better competitive decisions.

Question 4

Cause Marketing

Answer 4

Marketing that promotes a cars or social issue, such as preventing child abuse, anti-littering efforts, and stop smoking campaigns.

Question 5

Co-branding

Answer 5

Cooperative arrangement in which two or more businesses team up to closely linked their names on a single product

Question 6

Comarketing

Answer 6

Cooperative arrangement in which to businesses jointly market each other’s products.

Question 7

Consumer (B2C) product

Answer 7

Good or service that has purchased by end-users.

Question 8

Consumer behavior

Answer 8

Actions of ultimate consumers directly involved in obtaining, consuming, and disposing of products and the decision processes that proceed and follow these actions

Question 9

Data mining

Answer 9

The task of using computer base technology to evaluate data in a database and identify Useful trends

Question 10

Data warehouse

Answer 10

Customer database that allows managers to combine data from several different organizational functions

Question 11

Demographics segmentation

Answer 11

Distinguishes markets on the basis of various demographic or soci economic characteristics

Question 12

End use segmentation

Answer 12

Marketing strategy that focuses on the precise way a B2B purchaser will use a product

Question 13

Environmental scanning

Answer 13

Analysis of external environmental factors by marketers to understand how they impact business and marketing decisions

Question 14

Event

Answer 14

Marketing or sponsoring short term events such as athletic competitions and cultural and charitable performances

Question 15

Exchange Process

Answer 15

Activity in which two or more parties give something of value to each other to satisfy perceived needs

Question 16

Frequency marketing

Answer 16

Marketing initiative that rewards frequent purchases with cash, rebates, merchandise, or other premiums.

Question 17

Geographical segmentation

Answer 17

Dividing a market into homogeneous groups on the basis of their locations

Question 18

Lifetime value of a customer

Answer 18

Revenues and intangible benefits (referrals and customer feedback) from a customer over the life of the relationship, minus the amount the company must spend to acquire and serve that customer.

Question 19

Market segmentation

Answer 19

Process of dividing a total market into several relatively homogeneous groups

Question 20

Marketing

Answer 20

Activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

Question 21

Marketing concept

Answer 21

Company -wide consumer orientation to promote long – run success.

Question 22

Marketing mix

Answer 22

Blending of the four elements of marketing strategy – product, distribution, promotion, and pricing – to fit the needs and preferences of a specific target market.

Question 23

Marketing research

Answer 23

Collecting and evaluating information to help marketers make affective decisions.

Question 24

Organization marketing

Answer 24

Marketing strategy that influences consumers to accept the goals of, receive the services of, or contribute in someway to an organization.

Question 25

Person Marketing

Answer 25

Use of efforts design to attract the attention, interest, and preference of a target market toward a person

Question 26

Place marketing

Answer 26

Attempt to attract people to a particular area, such as a city state or nation.

Question 27

Product related segmentation

Answer 27

Dividing consumer market into groups based on the buyers relationship to the good or service

Question 28

Psychographic segmentation

Answer 28

Dividing consumer markets into groups with similar psychological characteristics, values, and lifestyles

Question 29

Relationship marketing

Answer 29

Developing and maintaining long-term, cost-effective exchange relationships with partners

Question 30

Target market

Answer 30

Group of people to a room an organization market it’s good, services, or ideas with a strategy design to satisfy their specific needs and preferences

Question 31

Utility

Answer 31

Power of a good or service to satisfy a want or need